The downward movement in Bitcoin, which started last week and continued as of Monday morning, accelerated even more in the afternoon. The largest cryptocurrency, which fell below $ 63,000 in the morning hours this morning, saw below $ 61,000 in the afternoon after the statement from Mt. Gox in the afternoon, it also saw below 61 thousand dollars.

It all came on top of each other

In recent days, the cryptocurrency market has been shaken both internally and by geopolitical developments. First, the statements made after the Fed’s (June 12) interest rate decision were perceived negatively by the market. While the subsequent declines could not be stopped, the German government’s BTC sales, the hacking of BtcTurk over the weekend, and the escalation of Russia-Ukraine and Israel-Lebanon tensions drove prices down further. Finally, Mt. Gox’s announcement that it will start paying more than 140 thousand Bitcoins and as many BCH payments increased the selling pressure further. Mt. Gox will begin distributing cryptocurrency worth more than $9 billion.

About 15 minutes after the announcement by the exchange’s board of trustees, Bitcoin fell below $61,000 in seconds. The largest cryptocurrency fell as low as $60,500. This figure was last seen on May 10.

The value of liquidated futures positions in the last 24 hours was $280 million. Of these, $260 million were long positions.